{
  "projectionVersion": "smpt-investigation-1",
  "projectId": "prj-ca-trail-strategic-metals",
  "corpus": {
    "revision": "2026-11-03",
    "legalStatusCutoff": "2026-11-03",
    "view": "current_corpus_revision",
    "notice": "Curated corpus revision, not source freshness or historical known-as-of coverage. Financial histories retain their own status dates."
  },
  "project": {
    "id": "prj-ca-trail-strategic-metals",
    "name": "Trail Strategic Metals Initiative",
    "sponsorOrgIds": [
      "org-teck-resources"
    ],
    "locations": [
      {
        "countryCode": "CA",
        "subnational": "British Columbia",
        "asStated": "Trail Operations in British Columbia"
      }
    ],
    "stages": [
      "processing",
      "refining"
    ],
    "materialIds": [
      "germanium",
      "antimony",
      "gallium"
    ],
    "materialAttribution": "tracked_only",
    "untrackedMaterialsAsStated": [],
    "evidence": [
      {
        "sourceId": "src-nrcan-trail-strategic-metals-2026",
        "supports": [
          "name",
          "location",
          "stages",
          "materials"
        ],
        "evidence": "explicit",
        "locator": "Opening and investment-framework paragraphs",
        "note": "NRCan describes expansion of critical-mineral processing capacity at Trail, including germanium, antimony and potential gallium capacity."
      },
      {
        "sourceId": "src-teck-trail-strategic-metals-2026",
        "supports": [
          "sponsors",
          "name",
          "location",
          "stages",
          "materials"
        ],
        "evidence": "explicit",
        "locator": "Opening through Strategic Metals Initiative paragraphs",
        "note": null
      }
    ],
    "notes": "The initiative could double existing germanium and antimony production capacity and potentially add gallium capacity; those are prospective outcomes, not current production increments."
  },
  "organizations": [
    {
      "id": "org-ca-canada-growth-fund",
      "name": "Canada Growth Fund",
      "nameOriginal": null,
      "aliases": [],
      "kind": "public_financier",
      "roles": [
        {
          "role": "provider",
          "recordId": "fin-ca-trail-cgf-2026-indication"
        }
      ],
      "evidence": [
        {
          "sourceId": "src-nrcan-g7-cmpa-2025",
          "supports": [
            "name",
            "kind",
            "country",
            "actor"
          ],
          "evidence": "ambiguous",
          "locator": "Nouveau Monde Graphite paragraph; Rio Tinto paragraph",
          "note": "Named as the source of investments and an \"equity-like royalty investment\" in a Government of Canada announcement; the backgrounder does not describe its ownership."
        }
      ]
    },
    {
      "id": "org-teck-resources",
      "name": "Teck Resources Limited",
      "nameOriginal": null,
      "aliases": [
        "Teck"
      ],
      "kind": "company",
      "roles": [
        {
          "role": "registered_sponsor",
          "recordId": "prj-ca-trail-strategic-metals"
        },
        {
          "role": "recipient",
          "recordId": "fin-ca-trail-cgf-2026-indication"
        }
      ],
      "evidence": [
        {
          "sourceId": "src-teck-trail-strategic-metals-2026",
          "supports": [
            "name",
            "kind",
            "country"
          ],
          "evidence": "explicit",
          "locator": "Opening paragraph",
          "note": "Teck's release identifies Teck Resources Limited and the Trail Operations facility in British Columbia."
        }
      ]
    }
  ],
  "financialInstruments": [
    {
      "id": "fin-ca-trail-cgf-2026-indication",
      "eventId": "evt-ca-trail-strategic-metals-2026",
      "instrument": "unspecified",
      "valueRole": "indication",
      "capitalSource": "public_enterprise",
      "projectRelationship": "directly_attributable",
      "projectId": "prj-ca-trail-strategic-metals",
      "associatedProjectIds": [],
      "amount": {
        "value": "400000000",
        "currency": "CAD",
        "qualifier": "up_to",
        "amountAsStated": "up to $400 million",
        "currencyBasis": "issuer_context",
        "basisNote": null,
        "basisLabel": null
      },
      "amountBasis": "current_recorded_terms_not_historical_totals",
      "provider": "Canada Growth Fund",
      "providerJurisdiction": "canada",
      "providerOrgIds": [
        "org-ca-canada-growth-fund"
      ],
      "recipient": "Teck Resources Limited",
      "recipientOrgIds": [
        "org-teck-resources"
      ],
      "programmeId": null,
      "legalAuthority": "Canada Critical Minerals Accelerator",
      "facility": "Trail Operations",
      "locations": [
        {
          "countryCode": "CA",
          "subnational": "British Columbia",
          "asStated": "Trail Operations in British Columbia"
        }
      ],
      "materialIds": [
        "germanium",
        "antimony",
        "gallium"
      ],
      "stages": [
        "processing",
        "refining"
      ],
      "currentFinancialStatus": "announced",
      "financialStatusHistory": [
        {
          "status": "announced",
          "date": "2026-07-07",
          "sourceId": "src-teck-trail-strategic-metals-2026",
          "note": "The signed Strategic Investment Agreement establishes a commercial framework and intent to work toward an investment; definitive documentation and approvals were still required."
        }
      ],
      "legacyPhysicalObservations": [],
      "terms": [
        {
          "kind": "other",
          "value": "400000000",
          "qualifier": "up_to",
          "currency": "CAD",
          "unit": null,
          "asStated": "an equity-like investment by CGF of up to $400 million directly into the facility",
          "sourceId": "src-nrcan-trail-strategic-metals-2026",
          "note": "Classified as instrument unspecified because 'equity-like' does not establish that the legal instrument is equity."
        },
        {
          "kind": "other",
          "value": null,
          "qualifier": null,
          "currency": null,
          "unit": null,
          "asStated": "offtake rights for a portion of future germanium, antimony and gallium produced by Trail",
          "sourceId": "src-nrcan-trail-strategic-metals-2026",
          "note": "A contemplated future structure, not a contracted offtake."
        }
      ],
      "statedOutcomes": [
        {
          "metric": "other",
          "value": "2",
          "qualifier": "up_to",
          "unit": "times existing production capacity",
          "targetDate": null,
          "asStated": "could double Trail's existing production capacity for germanium and antimony",
          "statedBy": "government",
          "sourceId": "src-nrcan-trail-strategic-metals-2026",
          "note": "Prospective capacity effect; gallium is described separately as potential new capacity."
        }
      ],
      "relationships": [],
      "evidence": [
        {
          "sourceId": "src-nrcan-trail-strategic-metals-2026",
          "supports": [
            "instrument",
            "value_role",
            "capital_source",
            "amount",
            "provider",
            "legal_authority",
            "recipient",
            "project",
            "facility",
            "location",
            "stages",
            "materials",
            "status",
            "terms",
            "outcomes"
          ],
          "evidence": "explicit",
          "locator": "Opening and investment-framework paragraphs",
          "note": "The source explicitly calls this a commercial framework for an equity-like investment; `unspecified` avoids converting that description into a legal-form claim."
        },
        {
          "sourceId": "src-teck-trail-strategic-metals-2026",
          "supports": [
            "value_role",
            "amount",
            "provider",
            "recipient",
            "project",
            "facility",
            "location",
            "stages",
            "materials",
            "status",
            "terms"
          ],
          "evidence": "explicit",
          "locator": "Opening through conditions paragraph",
          "note": "Teck states that the contemplated arrangements remain subject to definitive documentation and approvals."
        }
      ],
      "notes": "A non-binding indication, not a committed investment. It is excluded from commitment totals unless later definitive documentation supports promotion to a commitment."
    }
  ],
  "nonallocativeAssociations": [],
  "designations": [],
  "nativeMilestones": [],
  "policyContexts": [
    {
      "id": "evt-ca-trail-strategic-metals-2026",
      "relationship": "finance_or_designation_parent",
      "jurisdiction": "canada",
      "issuingBody": "Natural Resources Canada / Canada Growth Fund",
      "titleEn": "Canada Growth Fund and Teck strategic investment framework for Trail strategic metals expansion",
      "titleOriginal": "Canada announces first agreement under new Canada Critical Minerals Accelerator",
      "documentNumber": null,
      "date": "2026-07-07",
      "policyStatus": "active",
      "sourceIds": [
        "src-nrcan-trail-strategic-metals-2026",
        "src-teck-trail-strategic-metals-2026"
      ]
    }
  ],
  "coannouncedControls": [],
  "financePackageReferences": [],
  "unknowns": [
    "No project-native source-reviewed industrial milestone is published. Attributed activity in financing histories remains a separate evidence class; no exact milestone date or facility-wide conclusion is inferred.",
    "Historical amount review is incomplete. Current amounts cannot be read as a time series of earlier commitments.",
    "Structural links and shared materials do not demonstrate that a government measure caused an industrial outcome."
  ],
  "sources": [
    {
      "id": "src-nrcan-g7-cmpa-2025",
      "title": "Backgrounder: Canada unlocks 26 new investments and partnerships with 9 allied countries to secure critical minerals supply chains",
      "publisher": "Natural Resources Canada",
      "url": "https://www.canada.ca/en/natural-resources-canada/news/2025/10/backgrounder-canada-unlocks-25-new-investments-and-partnerships-with-9-allied-countries-to-secure-critical-minerals-supply-chains.html",
      "language": "en",
      "sourceType": "official",
      "confidence": "primary",
      "publishedOn": "2025-10-31",
      "accessedOn": "2026-09-23"
    },
    {
      "id": "src-nrcan-trail-strategic-metals-2026",
      "title": "Canada announces first agreement under new Canada Critical Minerals Accelerator",
      "publisher": "Natural Resources Canada",
      "url": "https://www.canada.ca/en/natural-resources-canada/news/2026/07/canada-announces-first-agreement-under-new-canada-critical-minerals-accelerator.html",
      "language": "en",
      "sourceType": "official",
      "confidence": "primary",
      "publishedOn": "2026-07-07",
      "accessedOn": "2026-10-02"
    },
    {
      "id": "src-teck-trail-strategic-metals-2026",
      "title": "Teck, Canada Growth Fund and Canada Critical Minerals Accelerator sign Agreement to Support Strategic Metals Production at Trail Smelter",
      "publisher": "Teck Resources Limited",
      "url": "https://www.teck.com/news/news-releases/2026/teck%2C-canada-growth-fund-and-canada-critical-minerals-accelerator-sign-agreement-to-support-strategic-metals-production-at-trail-smelter",
      "language": "en",
      "sourceType": "other",
      "confidence": "primary",
      "publishedOn": "2026-07-07",
      "accessedOn": "2026-10-02"
    }
  ],
  "limitations": [
    "Policy contexts here parent existing finance or designation records; a shared material or date never creates a causal edge.",
    "Coannounced controls are announcement siblings only, not project-specific restrictions or effects.",
    "Direct project attribution and nonallocative association are different. No individual monetary allocation, financial sum or payment conclusion is authorized.",
    "Financing statuses describe the current corpus revision. Legacy implementation observations require scoped review and are not project-native milestones.",
    "A milestone's event/target date, publication/access horizon and reviewer date are separate. A planned target is not automatically occurred.",
    "An absent reviewed milestone means no approved entry in SMPT, not that the facility is inactive or failed.",
    "Amounts retain current source-stated terms, original currency and exact decimal strings. This packet computes no historical financial totals or project-wide monetary allocation.",
    "Published source review does not establish independent on-site verification. Source, financial-status, occurrence, target and review dates remain distinct."
  ]
}